in a signed realestate contract can alter or change or add statement in it?

Asked by Sik90005, New City, NY Thu Oct 11, 2012

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Martina Ryan, Agent, Bayside, NY
Thu Oct 18, 2012
If both parties agree to it then it is possible. If the contract is already signed you can not add terms unless there is mutual agreement.
0 votes
Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Fri Oct 12, 2012
Good morning Sik90005,

Here in New York we use Attorneys in the Purchasing and Selling of homes. If any changes are required or requested in a contract of sale, these changes are negotiated and agreed to first by the Attorneys representing both parties (Sellers/Purchasers), then, after consultation and agreement on the part of the Sellers and Purchasers, the contract of sale is amended. Amendments are usually a separate part of the contract (although some changes can be made in the body of the contract and initialed by all parties, depending on when during the contract cycle this takes place), prepared more often by the Seller's Attorney and executed by all parties.

If you are not using an Attorney, I highly recommend you get a referral to a great local Attorney who specializes in real estate.

A good real estate attorney seeks to do two things in a purchase transaction:

1. Protect her client. This includes a review and revision of the contract of sale to remove any harmful language/requirements. Also a review of the title report to verify there are no obstructions to you, the Purchaser, receiving a good "clean" title at closing. Lastly, a thorough review and explanation of the closing documents.

2. Help the Purchaser accomplish the goal of homeownership. A good real estate attorney understands that buying a home is a happy time: someone's dream is about to come true! Thus, the adversarial nature of the contract transaction gets toned down to a matter of reasonable conversations betwen the Purchaser's and Seller's attorneys. This isn't a lawsuit or divorce case, so the good real estate attorney has to tone down the rhetoric and find reasonable compromises---while still protecting his client---so that the goal of the contract is achieved: a home purchase.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
0 votes
Mack McCoy, Agent, Seattle, WA
Thu Oct 11, 2012
You don't need an attorney for this.

The contract, as signed by all parties, documents the agreement between the parties. The PARTIES can amend it - you can offer an amendment and have the other parties ratify it - but no party can change things on their own.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Oct 11, 2012
Consult with your attorney, especially the parties involved are in agreement....
0 votes
Shanna Rogers, Agent, Murrieta, CA
Thu Oct 11, 2012
Hi Sik90005,

Once a contract is sigend by all parties, the only way to change anything in it is to do an Amendment - which also has to be signed by all parties.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes
Raj Bajaj, Agent, New City, NY
Thu Oct 11, 2012
In New York state, once there is a signed contract, changes can be made if both parties agree and the attorneys agree. Common causes for changing a contract, are a price change due an appraisal coming in on the low side, name changes, date changes, issues with the condition of the house changing before walk-through, legal problems with the title search, etc. In any event, this is a legal question and must be handled by the attorneys.
0 votes
Doc & Ellen…, Agent, San Antonio, TX
Thu Oct 11, 2012
In most states, changing an original contract is done by an Amendment, signed by all parties.

Doc Stephens, REALTOR
Web Reference:  http://ElegantTexasHomes.com
0 votes
Carmen Di Bi…, Agent, Nyack, NY
Thu Oct 11, 2012
A signed contract can only be altered with the consent of both parties.
0 votes
Maureen McEn…, Agent, Pearl River, NY
Thu Oct 11, 2012
Hello Sik,

Once the contracts are signed, usually both parties would have to agree to change the terms in the contract. Your lawyer will be able to advise you on how to proceed. with any changes to the contract. Good luck in this transaction
0 votes
allan erps,A…, Agent, Pearl River, NY
Thu Oct 11, 2012
Can possibly be altered but Attorney should answer this question. If things arise from Title or Municipal searches that could be a factor. Possible water problems, etc. after signing as well. Seek legal advice first and best of luck.
0 votes
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